Boundless investment in The Good Car Company enables a tenfold scale up in affordable EV availability

3 directors 4 cars spaced outThe Good Car Company is thrilled to announce that we have received a $10 million investment from philanthropic and investment venture Boundless.

Boundless is committing these funds towards enabling the Good Car Co. to increase the volume of EVs we import tenfold from approximately 200 per year to 2,000.

"To be the recipients of Boundless' first ever investment is absolutely fantastic. Boundless wants to enable Australia to become a renewable energy superpower by 2030 and has invested in us as part of making that happen!"

Co-Founder and a director of The Good Car Company Anthony Broese Van Groenou

The Good Car Company is Australia’s largest importer of second-hand electric vehicles (EVs).  We are putting electric vehicles within financial reach of regular Australian families, and are engaging at the community level to deliver impactful decarbonisation of transport through EV bulk buys.

With the Boundless partnership, we can now reach more communities throughout the country - generating the scale and speed of transition that is so needed.

Boundless initiated Australia’s first EV summit in August, which helped plot Australia's path to increasing EV uptake. This announcement marks a significant step towards solving two of the biggest barriers to Australian EV adoption - supply and affordability.

3 directors closer group red car door


Our boosted capacity to add 2,000 more affordable EVs to the Australian marketplace each year, will have the transformative community-scale impact that Australia needs.

According to Anton Vikstrom, co-founder and a director of Good Car Co., "We delivered Australia’s first community EV bulk buy in 2019. In every community we work with, we meet more and more people wanting to transition to an EV and the opportunities they unlock. People know that an EV in their garage is a huge step toward decarbonising their lifestyles as well as dramatically reducing their cost of living."

Sam Whitehead (co founder and director) who has been building out the Good Car Company's supply chain and logistics systems believes the investment is impactful at all levels from national stock allocations to household emissions budgets "Australia is comparatively under-served by availability and affordability of EV's. We’re so excited to be able to bring more cars, to more people; empowering them to take control of what is often the most significant chunk of their household emissions budget.

Scaling and speeding up the EV transition

At The Good Car Company, we're building a movement - when we bring people together in communities, it's catalysing. It's creating change and enabling access, demystifying EVs and helping transform a society that is still dependent on fossil fuels. We’re helping communities to transition together, so that not only individual households switch to an EV, but communities will be able to take advantage of the opportunities for energy transformation in their cars’ batteries. The investment we’ve secured from Boundless enables a massive scaling-up of internal systems + processes as well as community mobilisation.

This announcement represents an important step in Boundless’ ambition to help Australia become a renewable energy superpower by 2030. It also completes the first of a series of quarterly "epics" that leverage a combination of philanthropy, catalytic investments, and advocacy, all helping Australia on the path toward being a renewable energy superpower by 2030. 

Australia's demand for EVs on the rise

More Australians are considering and purchasing EVs, with sales having more than doubled in August from 2% to 4.4%. In accordance with markets leading the charge including the UK, Europe, and New Zealand, Australia must hit 10% of cars sold by 2024 in order to accelerate EV adoption. To achieve this, the Australian Government’s proposed fuel efficiency standards will be critical. In New Zealand, fuel efficiency standards saw the country’s EV adoption rise from 3% to 10% in just over a year. 

Boundless says the Good Car Company is a perfect fit

Eytan Lenko, CEO of Boundless, said, “At Boundless, our investments, initiatives, and partnerships are laser-focused on ensuring Australia becomes a renewable energy superpower by 2030. With transport accounting for 18% of Australia’s emissions, we knew our first priority had to be bridging the growing gap between demand for EVs among Australians and the supply available within an attainable price point. The Good Car Company is a perfect fit, and we’ve been blown away by their continued advocacy towards investment in the EV industry as a whole. Boundless funding will help The Good Car Company go from 200 per year to close to 2,000 per year and our dream is that our funding catalyses other capital.

Additional $1 million investment

Cameron Adams, co-founder of Canva, and Lisa Miller ex-canva mentor and environmental change-agent, also committed to an additional investment of $1 million. “It was incredibly exciting to meet a trio of entrepreneurs tackling climate change and electrification in our own backyard, and we have been enthusiastic supporters ever since. The Good Car Company’s commitment towards action and changing the current state of play one car at a time is exactly what Australia needs right now.